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According to reports, Venezuela's blockchain-based digital Petro is the world's first state-backed virtual currency that recently tied up with a Delhi-based digital currency exchange Coinsecure to sell oil-backed digital currency on its platform.

PNB scam: Non-bailable warrants issued against Nirav Modi, Mehul Choksi on CBI pleaA special CBI court in Mumbai has issued non-bailable warrants (NBWs) against billionaire diamantaire Nirav Modi and his uncle Mehul Choksi in connection with the cases related to over USD 2 billion banking fraud in the Punjab National Bank. The issuance of NBWs by a court also opens door of seeking Red Corner Notices against both of the accused from the Interpol.Lockheed welcomes India's procuremen...

Cryptocurrencies are virtual currencies that are created and held electronically. They are unregulated and are mined based on blockchain technology. Like every commodity, their values are also based on demand and supply.

RBI cracks down on Bitcoin, bans banks from dealing with cryptocurrency tradersThe Reserve Bank of India (RBI) has released a statement directing all regulated entities, including banks, to stop dealing with individuals and businesses dabbling in virtual currencies. This amounts to a ban on banks in dealing with companies or individuals that trade in cryptocurrencies. The RBI also said that it will soon issue a separate circular on this matter. By its own admission, this move is a...

Today, the Reserve Bank of India released a statement directing all regulated entities, including banks, to stop dealing with individuals and businesses dabbling in virtual currencies. This amounts to a ban on banks in dealing with companies or individuals that trade in cryptocurrencies.

This is another step towards making good Finance Minister Arun Jaitley's promise of a comprehensive central legislation to deal with the menace of illicit deposit-taking schemes made in his Budget Speech two years ago.

In 2017, the largest cryptocurrency Bitcoins price rose over 1,300 per cent, and it has been swinging wildly this year, worrying regulatory agencies globally. Nicolas Cary, Co-founder and President of Blockchain, the largest blockchain firm globally, provides the technology that supports storing and transactions of Bitcoins. He spoke to BT's Manu Kaushik over the phone, in the middle of a busy day at his London office.

Amid continuing volatility in bitcoin prices and growing concerns about investors' safety, Sebi Chairman Ajay Tyagi today said the regulations on cryptocurrencies should be out soon and the role various regulators will play is being finalised.

The government does not consider cryptocurrencies legal tender and will take all measures to eliminate use of crypto assets in financing illegitimate activities or as part of payment system, Finance Minister Arun Jaitley told parliament while presenting annual budget last week.

India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in \"crypto assets,\" a finance ministry official said on Monday.

The Economic Survey tabled in Parliament by the Union Minister for Finance and Corporate Affairs, Arun Jaitley has predicted India's GDP to grow 7 - 7.5 percent in 2018-19, an increase from its prediction of 6.75 percent growth this fiscal.